Iraq Minister of Planning Ali Baban called on Iraq Provincial Councils to introduce strategic programs as part of the framework of the 2010 Budget. The Minister said that the complementary budget was approved in some provinces a while ago which is a positive step which allows the provinces to start important projects which were delayed […]
Archive | Iraq Banking & Finance News
Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Cash transferred to 3 Countries for Displaced Persons
The Iraqi cabinet has approved the transfer of 5.9 billion Iraqi dinars to Iraqi banks in Lebanon, Syria and Jordan to give cash to displaced families, according to the government’s spokesman Ali al-Dabbagh on Tuesday. “The move comes in a bid to improve the living standards of those families that were forced by acts of […]
CBI Dollar Sales Down to $121m
The Central Bank of Iraq (CBI) dollar sales went down to reach $121.220 million in its daily auction Tuesday, compared to $146.493 million in the previous session. “The demand hit $2.170 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $119.050 million in foreign transfers outside the country, covered […]
Tags: CBI, Iraq Banking & Financial News
Turkish Consul to Increase Investments in Basra
The volume of Turkish investments in Basra is so big and we will increase the number of Turkish companies working in the city to 1000 next year, the Turkish consul said on Monday. “Our main goal is to increase the number of Turkish companies working in Basra,” Ali Reda said during the inauguration of a […]
Finance Minister Urges Italians to Tackle Debt Issue
Finance Minister Baqer al-Zubaidi urged the Iraqi ambassador on Monday to tackle the debts issue with Italy and to encourage companies there to invest in Iraq, according to a statement of the finance ministry. “Al-Zubaidi urged the new Iraqi Ambassador, Saad Qandi, to discuss the $850 million debts owed by Iraq,” said the statement received […]
$24 Million Investment Project in Missan
An investor has submitted an agricultural investment project costing $24 million to the north of Amara city, the head of the Missan Investment Commission (MIC) said on Monday. “The investor presented the project to the MIC, which includes a milk factory and livestock raising as well as the establishment of sheds on 70,000 donums,” Dr. […]
Kurdistan Ready to Receive Egyptian Investments - Barzani
President of Iraq’s Kurdistan region, Massoud Barzani, said on Monday that Kurdistan is ready to receive Egyptian investors and businessmen. He has accepted an invitation to visit Egypt, according to a presidential statement. “President Barzani received the Egyptian Ambassador to Iraq, Sharief Kamal al-Din Shahin at the Salah el-Din resort in Arbil,” said the statement […]
Iraq Gov’t Bank Managers Arrested, $360m Missing
Three managers of state-owned Iraqi banks have been arrested on suspicion of using bogus transfers to siphon off billions of dollars of government money to invest in private business.
Tags: Corruption
Finance Minister Launches ID200b Project in Baghdad
Iraqi Finance Minister Baqer Jabr al-Zubaydi announced on Thursday that his ministry has earmarked 200 billion Iraqi dinars for the 10×10 project in the eastern Baghdad district of Sadr City, according to a press release. “During a meeting with the municipal council of Sadr City, Zubaydi called for investing the sum this year in the […]
CBI Dollar Sales Go Down to $118m
The Central Bank of Iraq’s (CBI) dollar sales went down to reach $118.416 million in its daily auction on Thursday, compared to $135.430 in the previous session. “The demand hit $60,000 in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $118.356 million in foreign transfers outside the country, covered at […]
Tags: CBI, Iraq Banking & Financial News
Banker Bemoans Foreign Banks' Reluctance To Set Up In Iraq
Mudhhir Mohammed Saleh, who is a member of the Central Bank's board of advisers, told RFI that foreign banks are conspicuous by their absence in Iraq for a variety of reasons, including security concerns and the lack of a favorable legal framework.
Tags: Banks, Investment
Barzani Meets German Investors in Arbil
The President of Iraq’s Kurdistan region Massoud Barzani received the German deputy trade minister and his accompanying delegation on Wednesday at the Salah el-Din resort in Arbil, according to a presidential statement. During the meeting he announced the inauguration of the German trade and industrial office in Kurdistan to facilitate the work of German investors […]